Intel Corporation, one of the world’s largest and highest valued semiconductor chip makers based on revenue., and the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs), in a cash and stock deal reportedly acquired US-based chip-design company, Soft Machines for $300 million.
Soft Machines is a semiconductor company co-developing VISC architecture-based processor and SoC products for all major performance computing platforms and has raised close to $175 million in funding to date. Corporate headquarters are in Santa Clara, California, U.S., with operations in India and Russia. Soft Machines investors include Samsung Ventures, AMD, GLOBALFOUNDRIES, RVC, KACST, RUSNANO, TAQNIA and others. Silicon Valley-based Soft Machines was founded in 2006 by Mahesh Lingareddy and Mohammad A Abdallah.
According to the sources aware of the development, with this deal in place, all the previous investors will exit the venture and Intel will become the sole owner and controller of Soft Machines. Intel has already started expanding operations at the company’s Hyderabad office by securing office space in the city.
As per the sources aware of the development,
“It is a cash and stock deal with a cash component of over $250 Mn. All the professionals of Soft Machines have become part of Intel from Thursday.”
They further added,
“The plan is to see that the team size is increased more than 10-fold over the next two-three years to nearly 2,000,”
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